A student loan is money borrowed to pay for study, repaid later out of earnings. Fees, and something to live on.
The British system is unusual, since repayment is a percentage of income above a threshold and the balance is written off after a set number of years, which makes it behave more like a graduate tax than a conventional debt. That distinction genuinely matters and is widely misunderstood. American loans behave far more like ordinary debt, which is why the two countries argue about the subject so differently.
1nounstudent loanMoney borrowed to fund study, repaid after graduation.
“She is still paying off a student loan from the nineties.”
Practised in A Man Called Ove, School Subjects
First appears in chapter 29 of A Man Called Ove.
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